Who are we?
‘We’, ‘us’ and ‘our’ refer to Loan Market Pty Limited ABN 89 105 230 019 Australian Credit Licence 390 222 of Level 26, 111 Eagle Street, Brisbane, Queensland, 4000 trading as Loan Market and our related businesses.
Our commitment to protect your privacy
We protect your information, and our aim to be clear and open about what we do with it.
Any personal information we collect about you will only be used for the purposes we have collected it or as allowed under the law. It is important to us that you are confident that any personal information we hold about you will be treated in a way which ensures protection of your personal information.
What information do we collect?
We collect most personal information directly from you, whether in person, on the phone, electronically or if you deal with us in some other way.
When we refer to personal information we mean information or an opinion from which your identity is reasonably apparent. Typically this will refer to:
Identification Information - this may include your name, date of birth, address, account details, employment history, qualifications and any other information we may need to identify you.
Financial Information - this typically includes details such as your tax file number and bank account, superannuation or insurance policy information. If we collect government identifiers, such as your tax file number, we do not use or disclose this information other than required by law. We will never use a government identifier in order to identify you.
Credit related information - information such as details relating to credit history, credit capacity, and eligibility for credit (‘credit worthiness’).
Sensitive Information - the personal information we collect may also include sensitive information — such as information about your religion, ethnicity, health or criminal record. The Privacy Act protects your sensitive information and we will generally only collect this information from you if it is reasonably necessary and with your consent.
Over the course of our relationship with you, we may also collect and hold additional personal information about you, including transactional information, complaint or enquiries about your product or service.
Why we collect your personal information
We collect personal information for the purposes of assessing your application for finance and managing that finance. We may also collect your personal information for the purposes of direct marketing and managing our relationship with you. From time to time we may offer you other products and services.
To enable us to maintain a successful business relationship with you, we may disclose your personal information to other organisations that provide products or services used or marketed by us. We may also disclose your personal information to any other organisation that may have or is considering having an interest in your finance, or in our business.
How do we collect your personal information?
Where reasonable and practical, we will collect your personal information directly from you. We may also collect your personal information from finance brokers and other people such as accountants and lawyers.
Do we disclose your personal information?
We may disclose your personal information:
- to prospective funders or other intermediaries in relation to your finance requirements;
- to other organisations that are involved in managing or administering your finance such as third party suppliers, printing and postal services, call centres;
- to associated businesses that may want to market products to you;
- to companies that provide information and infrastructure systems to us;
- to anybody who represents you, such as finance brokers, lawyers and accountants;
- to anyone, where you have provided us consent;
- where we are required to do so by law, such as under the Anti-Money or Laundering and Courter Terrorism Financing Act 2006 (Cth);
- to investors, agents or advisers, or any entity that has an interest in our business; or
- to your employer, referees or identity verification services.
Prior to disclosing any of your personal information to another person or organisation, we will take all reasonable steps to satisfy ourselves that:
(a) the person or organisation has a commitment to protecting your personal information at least equal to our commitment, or
(b) you have consented to us making the disclosure.
Transfer of Information Overseas
We may disclose personal information to our related entities, third party suppliers and service providers located overseas for some of the purposes listed above. We take reasonable steps to ensure that the overseas recipients of your personal information do not breach the privacy obligations relating to your personal information.
Further, we will only transfer personal information we have collected about you overseas, if permitted to do so under the Australian Privacy Principles.
We may disclose your personal information to entities located outside of Australia, including the following:
- our data hosting and other IT service providers, located in various countries; and
- other third parties located in various foreign countries, including New Zealand, the Philippines & USA.
Your personal information may also be stored in the cloud in an overseas country. As electronic or networked storage can be accessed from various countries via an internet connection, it is not always practicable to know in which country your information may be held.
In the event that a disclosure is made in an overseas country, while they will often be subject to confidentiality or privacy obligations, they will not always follow the particular requirements of Australian privacy laws.
Updating, accessing & correcting your personal information
It is important to us that the personal information we hold about you is accurate and up to date. During the course of our relationship with you we may ask you to inform us if any of your personal information has changed.
We will provide you with access to the personal information we hold about you. You may request access to any of the personal information we hold about you at any time. We may charge a fee for our costs of retrieving and supplying the information to you.
There may be situations where we are not required to provide you with access to your personal information, for example, if the information relates to existing or anticipated legal proceedings. An explanation will be provided to you if we deny you access to the personal information we hold about you.
If you wish to make any changes to your personal information, you may contact us. We will generally rely on you to ensure the information we hold about you is accurate or complete. If any of the personal information we hold about you is incorrect, inaccurate or out of date you may request that we correct the information. If appropriate, we will correct the personal information. Where reasonable, and after our investigation, we will provide you with details about whether we have corrected the personal information within 30 days.
If for any reason we refuse to correct personal information we will provide you with our reasons for not correcting the information.
How do we protect your information?
We store information in different ways, including in paper and electronic form. The security of your personal information is important to us and we take reasonable steps to protect it from misuse, interference and loss and from unauthorised access, modification or disclosure.
We keep personal information only for as long as is reasonably necessary for the purpose for which it was collected or to comply with any applicable legal or ethical reporting or document retention requirements.
All Loan Market Group employees have confidentiality requirements and access to your information is restricted to those employees whose job requires that information.
Access to our premises are controlled and computer systems have electronic security systems such as firewalls and data encryption.
We will also take reasonable steps to destroy or de-identify your personal information when your personal information is no longer required for our business purposes.
From time to time we may use your personal information to provide you with current information about finance, offers you may find of interest, changes to our organisation, or new products or services being offered by us or any company with whom we are associated.
If you do not wish to receive marketing information, you may at any time decline to receive such information by telephoning us on 13 56 26 or by writing to us at email@example.com. If the direct marketing is by email you may also use the unsubscribe function. We will not charge you for giving effect to your request and will take all reasonable steps to meet your request at the earliest possible opportunity.
Using government identifiers
If we collect government identifiers, such as your tax file number, we do not use or disclose this information other than required by law. We will never use a government identifier in order to identify you.
Business without identifying you
In most circumstances it will be necessary for us to identify you in order to successfully do business with you, however, where it is lawful and practicable to do so, we will offer you the opportunity of doing business with us without providing us with personal information, for example, if you make general inquiries about interest rates or current promotional offers.
If you are dissatisfied with how we have dealt with your personal information we want to hear from you. You can contact our complaints officer at firstname.lastname@example.org
We will acknowledge your complaint within seven days. We will provide you with a decision on your complaint within 30 days.
If you are dissatisfied with the response of our complaints officer you may make a complaint to the Privacy Commissioner which can be contacted on either www.oaic.gov.au or 1300 363 992.
You may also request further information about the way we manage your personal information by contacting us.